Title
Consider/Discuss/Act on a Resolution Authorizing Execution of a Texas Department of Transportation Airport Participation Agreement (Federally Assisted Airport Development Grant) with the Texas Department of Transportation for the Reconstruction and Expansion of Pavement at McKinney National Airport
Summary
MEETING DATE: February 3, 2015
DEPARTMENT: Airport
CONTACT: Kenneth Wiegand, Airport Director
RECOMMENDED CITY COUNCIL ACTION:
· Approval of Resolution
ITEM SUMMARY:
· This resolution is required by the Texas Department of Transportation (TxDOT) to document the City of McKinney's acceptance of a Federally Assisted Airport Development Grant to reconstruct and expand approximately 341,910 square feet of aircraft parking apron.
· Acceptance of this grant will earn the City 90% of the bid construction cost of $6,320,930, which is $5,688,837.
· Acceptance of this grant will designate TxDOT as the City's agent to administer construction to include collection and disbursement of all funds.
· The grant requires the City to pay its 10% share of the bid construction cost of $6,320,930, which is $632,093.
· On all projects, TxDOT-Avn requires payment of the City's share of the Estimated project cost before the project is bid.
· The City paid TxDOT-Avn its 10% share of the estimated construction cost of $6,500,000 in August 2014, which amounted to $650,000.
· Acceptance of this grant will earn the City a refund from TxDOT-Avn of $17,907, which is the difference between the 10% share of the estimated construction cost and the 10% share of the bid construction cost.
FINANCIAL SUMMARY:
Airport Participation Agreement Grant Amounts
Project |
Total Amount |
Federal Share |
City Share |
Pavement Reconstruction |
$6,320,930 |
$5,688,837 |
$632,093 |
BOARD OR COMMISSION RECOMMENDATION: Recommended approval.